Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q2 2025 Earnings Presentation
71 slides from Mercedes-benz's earnings presentation, Jul 30, 2025
Slide 1: Interim Report as of 30 June 2025
Interim Report as of 30 June 2025 Mercedes-Benz Group
Slide 2: Contents
Interim Report as of 30 June 2025 | Mercedes-Benz Group 2 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Contents 3 KEY FIGURES 39 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 7 REPORTING PRINCIPLES 40 Co
Slide 3: Key Figures
Interim Report as of 30 June 2025 | Mercedes-Benz Group 3 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Key Figures Financial key figures of the Mercedes-Benz Group Q2 2025 Q2 2024 Change Q1-Q2 2025 Q1-Q2 2024
Slide 4: Financial key figures of the segments in the second quarter
Interim Report as of 30 June 2025 | Mercedes-Benz Group 4 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Financial key figures of the segments in the second quarter Mercedes-Benz Cars Mercedes-Benz Vans Q2 2025
Slide 5: Financial key figures of the segments in the first half year
Interim Report as of 30 June 2025 | Mercedes-Benz Group 5 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Financial key figures of the segments in the first half year Mercedes-Benz Cars Mercedes-Benz Vans Q1-Q2 2
Slide 6: Non-financial key figures
Interim Report as of 30 June 2025 | Mercedes-Benz Group 6 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Non-financial key figures Mercedes-Benz Cars Mercedes-Benz Vans Q2 2025 Q2 2024 Change Q2 2025 Q2 2024 Cha
Slide 7: Reporting Principles
Interim Report as of 30 June 2025 | Mercedes-Benz Group 7 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Reporting Principles The Interim Report of Mercedes-Benz Group AG as of The Group includes the segments Me
Slide 8: Important Events
Interim Report as of 30 June 2025 | Mercedes-Benz Group 8 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Important Events Interim Group Management Report Important Events Further Information can be found in the
Slide 9: Launch of the product offensive with the new CLA
Interim Report as of 30 June 2025 | Mercedes-Benz Group 9 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Important Events Launch of the product offensive with the new CLA Reaffirming commitment to sustainability
Slide 10: Business Development
Interim Report as of 30 June 2025 | Mercedes-Benz Group 10 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Business Development xEVs in the second quarter remained at previous year’s Unit sal
Slide 11: Mercedes-Benz Cars increased sales of electrified models
Interim Report as of 30 June 2025 | Mercedes-Benz Group 11 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Mercedes-Benz Cars increased sales of electrified While unit sales of all-electric v
Slide 12: Mercedes-Benz Cars first half of 2025
Interim Report as of 30 June 2025 | Mercedes-Benz Group 12 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development In the first half of 2025, Mercedes-Benz Cars’ unit Total unit sales of Core vehicle
Slide 13: Mercedes-Benz Vans
Interim Report as of 30 June 2025 | Mercedes-Benz Group 13 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Mercedes-Benz Vans In the commercial sector, unit sales in the second Unit sales of
Slide 14: Mercedes-Benz Vans first half of 2025
Interim Report as of 30 June 2025 | Mercedes-Benz Group 14 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Mercedes-Benz Vans sold 176,300 vehicles worldwide Despite positive sales developmen
Slide 15: Mercedes-Benz Mobility
Interim Report as of 30 June 2025 | Mercedes-Benz Group 15 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Mercedes-Benz Mobility In Germany, new business in the first half of 2025 was down b
Slide 16: Investment and research activities
Interim Report as of 30 June 2025 | Mercedes-Benz Group 16 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Investment and research activities Mercedes-Benz Vans’ investments in property, plan
Slide 17: Research and development
Interim Report as of 30 June 2025 | Mercedes-Benz Group 17 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Business Development Research and development Capitalized development costs in the first half of the year
Slide 18: Profitability
Interim Report as of 30 June 2025 | Mercedes-Benz Group 18 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability Profitability, Cash Flows and Profitability Selling expenses in the first two quarters of 2
Slide 19: Other financial income, EBIT and net profit
Interim Report as of 30 June 2025 | Mercedes-Benz Group 19 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability The other financial income in the first six months Net profit amounted to €2,688 million in
Slide 20: Condensed Consolidated Statement of Income (Q2)
Interim Report as of 30 June 2025 | Mercedes-Benz Group 20 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability Condensed Consolidated Statement of Income Mercedes-Benz Group Industrial Business Mercedes
Slide 21: Condensed Consolidated Statement of Income (Q1-Q2)
Interim Report as of 30 June 2025 | Mercedes-Benz Group 21 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability Condensed Consolidated Statement of Income Mercedes-Benz Group Industrial Business Mercedes
Slide 22: EBIT of the segments
Interim Report as of 30 June 2025 | Mercedes-Benz Group 22 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability EBIT of the segments In the second quarter of 2025, the Mercedes-Benz In the second quarter
Slide 23: EBIT by segment (Q2)
Interim Report as of 30 June 2025 | Mercedes-Benz Group 23 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability EBIT Mercedes-Benz Group Mercedes-Benz Cars Mercedes-Benz Vans Mercedes-Benz Mobility Recon
Slide 24: EBIT by segment (Q1-Q2)
Interim Report as of 30 June 2025 | Mercedes-Benz Group 24 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Profitability EBIT Mercedes-Benz Group Mercedes-Benz Cars Mercedes-Benz Vans Mercedes-Benz Mobility Recon
Slide 25: Cash Flows and Liquidity
Interim Report as of 30 June 2025 | Mercedes-Benz Group 25 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity Cash Flows and Liquidity Condensed Consolidated Statement of Cash Flows Mercedes
Slide 26: Condensed Consolidated Statement of Cash Flows
Interim Report as of 30 June 2025 | Mercedes-Benz Group 26 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity Condensed Consolidated Statement of Cash Flows Mercedes-Benz Group Industrial Bu
Slide 27: Free cash flow of the industrial business
Interim Report as of 30 June 2025 | Mercedes-Benz Group 27 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity Free cash flow of the industrial business Free cash flow of the industrial busin
Slide 28: Free cash flow of the Mercedes-Benz Group
Interim Report as of 30 June 2025 | Mercedes-Benz Group 28 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity As well as being calculated on the basis of the dis- Free cash flow of the Merce
Slide 29: CFBIT and cash conversion rate
Interim Report as of 30 June 2025 | Mercedes-Benz Group 29 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity CFBIT and cash conversion rate of Reconciliation from EBIT to adjusted CFBIT the
Slide 30: Net liquidity and net debt
Interim Report as of 30 June 2025 | Mercedes-Benz Group 30 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity Net liquidity and net debt To the extent that the Group’s internal refinancing o
Slide 31: Refinancing
Interim Report as of 30 June 2025 | Mercedes-Benz Group 31 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Cash Flows and Liquidity Refinancing The Mercedes-Benz Group once again utilized the international money
Slide 32: Financial Position
Interim Report as of 30 June 2025 | Mercedes-Benz Group 32 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Financial Position Financial Position As of 30 June 2025, the balance sheet total of the Group was slight
Slide 33: Equity and liabilities
Interim Report as of 30 June 2025 | Mercedes-Benz Group 33 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Financial Position Mercedes-Benz Group Industrial Business Mercedes-Benz Mobility 30 June 2025 31 Decembe
Slide 34: Assets
Interim Report as of 30 June 2025 | Mercedes-Benz Group 34 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Financial Position Assets Other financial assets, which primarily consist of Financing liabilities of €10
Slide 35: Derivation of net assets of the automotive segments
Interim Report as of 30 June 2025 | Mercedes-Benz Group 35 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Financial Position The following table shows the derivation of net assets of the automotive segments. The
Slide 36: Outlook
Interim Report as of 30 June 2025 | Mercedes-Benz Group 36 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Outlook Outlook Reserve more difficult. Overall, a significant slowdown Overview of forecast key figures
Slide 37: Forward-looking statements for the year 2025
Interim Report as of 30 June 2025 | Mercedes-Benz Group 37 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Outlook The other forecasts made in the Combined Management Report of the Annual Report 2024 remain valid
Slide 38: Risk and Opportunity Report
Interim Report as of 30 June 2025 | Mercedes-Benz Group 38 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Risk and Opportunity Report Risk and Opportunity Report Business, company-specific, and financial risks a
Slide 39: Condensed Interim Consolidated Financial Statements
Interim Report as of 30 June 2025 | Mercedes-Benz Group 39 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Condensed Interim Consolidated Financial Statements
Slide 40: Consolidated Statement of Income
Interim Report as of 30 June 2025 | Mercedes-Benz Group 40 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Income Consolidated Statement of Income Note Q2 2025 Q2 2024 Q1-Q2 2025 Q1-Q2 2
Slide 41: Consolidated Statement of Comprehensive Income
Interim Report as of 30 June 2025 | Mercedes-Benz Group 41 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Comprehensive Income Consolidated Statement of Comprehensive Income Q2 2025 Q2
Slide 42: Consolidated Statement of Financial Position
Interim Report as of 30 June 2025 | Mercedes-Benz Group 42 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Financial Position Consolidated Statement of Financial Position Note 30 June 20
Slide 43: Consolidated Statement of Financial Position (equity and liabilities)
Interim Report as of 30 June 2025 | Mercedes-Benz Group 43 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Financial Position Note 30 June 2025 31 December 2024 In millions of euros Equi
Slide 44: Consolidated Statement of Cash Flows
Interim Report as of 30 June 2025 | Mercedes-Benz Group 44 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Cash Flows Consolidated Statement of Cash Flows Q1-Q2 2025 Q1-Q2 2024 In millio
Slide 45: Consolidated Statement of Cash Flows (continued)
Interim Report as of 30 June 2025 | Mercedes-Benz Group 45 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Cash Flows Q1-Q2 2025 Q1-Q2 2024 In millions of euros Change in short-term fina
Slide 46: Consolidated Statement of Changes in Equity
Interim Report as of 30 June 2025 | Mercedes-Benz Group 46 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Consolidated Statement of Changes in Equity Consolidated Statement of Changes in Equity Other Reserves Eq
Slide 47: Notes to the Interim Consolidated Financial Statements
Interim Report as of 30 June 2025 | Mercedes-Benz Group 47 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements Notes to the Interim Consolidated Mercedes-Benz Gr
Slide 48: 2. Significant disposals of investments
Interim Report as of 30 June 2025 | Mercedes-Benz Group 48 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements For a more suitable presentation, a change was mad
Slide 49: 3. Revenue
Interim Report as of 30 June 2025 | Mercedes-Benz Group 49 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements Sale of sales companies and retail activities Sale
Slide 50: Revenue
Interim Report as of 30 June 2025 | Mercedes-Benz Group 50 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements Revenue Mercedes-Benz Cars Mercedes-Benz Vans Merc
Slide 51: 4. Functional costs 5. Other operating income and expense
Interim Report as of 30 June 2025 | Mercedes-Benz Group 51 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 4. Functional costs Expenses from the workforce ad
Slide 52: 6. Other financial income/expense 7. Interest income and interest expense
Interim Report as of 30 June 2025 | Mercedes-Benz Group 52 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 6. Other financial income/expense Other financial
Slide 53: 8. Income taxes 10. Property, plant and equipment 11. Equipment on operating leases
Interim Report as of 30 June 2025 | Mercedes-Benz Group 53 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 8. Income taxes 10. Property, plant and equipment
Slide 54: 12. Equity-method investments
Interim Report as of 30 June 2025 | Mercedes-Benz Group 54 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 12. Equity-method investments In May 2025, the Ann
Slide 55: 13. Receivables from financial services 14. Inventories
Interim Report as of 30 June 2025 | Mercedes-Benz Group 55 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 13. Receivables from financial services Receivable
Slide 56: 15. Equity
Interim Report as of 30 June 2025 | Mercedes-Benz Group 56 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 15. Equity Act (AktG). Among other things, the Boa
Slide 57: Share buyback programmes and employee share purchase plans
Interim Report as of 30 June 2025 | Mercedes-Benz Group 57 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements Share buyback programmes Employee share purchase p
Slide 58: 16. Pensions and similar obligations 17. Provisions for other risks
Interim Report as of 30 June 2025 | Mercedes-Benz Group 58 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 16. Pensions and The present value of the defined
Slide 59: 18. Financing liabilities
Interim Report as of 30 June 2025 | Mercedes-Benz Group 59 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 18. Financing liabilities In addition, asset-backe
Slide 60: 19. Legal proceedings
Interim Report as of 30 June 2025 | Mercedes-Benz Group 60 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 19. Legal proceedings Other legal proceedings As p
Slide 61: 20. Financial instruments
Interim Report as of 30 June 2025 | Mercedes-Benz Group 61 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 20. Financial instruments Marketable debt securiti
Slide 62: Carrying amounts and fair values of financial instruments
Interim Report as of 30 June 2025 | Mercedes-Benz Group 62 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements Carrying amounts and fair values of financial inst
Slide 63: Measurement hierarchy of financial assets and liabilities
Interim Report as of 30 June 2025 | Mercedes-Benz Group 63 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements The following table provides an overview of the cl
Slide 64: 21. Segment reporting
Interim Report as of 30 June 2025 | Mercedes-Benz Group 64 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 21. Segment reporting Segment reporting is present
Slide 65: Reconciliation of EBIT to Group figures
Interim Report as of 30 June 2025 | Mercedes-Benz Group 65 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements The effects of the intra-Group refinancing of the
Slide 66: 22. Related party disclosures
Interim Report as of 30 June 2025 | Mercedes-Benz Group 66 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements 22. Related party disclosures The receivables and
Slide 67: Transactions with related parties
Interim Report as of 30 June 2025 | Mercedes-Benz Group 67 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Notes to the Interim Consolidated Financial Statements Transactions with related parties Income from sale
Slide 68: Responsibility Statement of the Legal Representatives
Interim Report as of 30 June 2025 | Mercedes-Benz Group 68 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Responsibility Statement of the Legal Representatives Further Information Responsibility Statement of the
Slide 69: Review Report
Interim Report Q2 2025 | Mercedes-Benz Group 69 Contents Key Figures Reporting principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Review Report Review Report We conducted our review of the condensed Based on our review, no matters have come to ou
Slide 70: Information on the Internet
Interim Report as of 30 June 2025 | Mercedes-Benz Group 70 Contents Key Figures Reporting Principles Interim Group Management Report Interim Consolidated Financial Statements Further Information Information on the Internet Information on the Internet Further information about the Mercedes-Benz Group
Slide 71: Mercedes-Benz Group AG, Mercedesstraße 120, 70372 Stuttgart, Germany
Mercedes-Benz Group AG, Mercedesstraße 120, 70372 Stuttgart, Germany